Curium Resources, a new North Sea exploration and production firm, has been launched by the former CEOs of Faroe Petroleum and Spirit Energy.
Graham Stewart, who led Faroe until its buyout by Norway’s DNO in 2019, is non-executive chair of the company.
Chris Cox, until recently the interim CEO of Capricorn Energy and the former top boss at Spirit Energy, is chief executive.
According to its website, Curium Resources Ltd aims to become a “leading and sustainable independent participant in the UK’s upstream energy sector”.
The firm says its geoscientists and engineers have identified “a number of promising opportunities” with plans to initially focus on “stranded and late life gas assets in the Southern North Sea”.
Companies House filings list Douglas Nunn, the firm’s Operations & HSE director and the founder of Fraser Offshore, as the only person with significant control (over 25% but not more than 50%).
Curium states it will contribute to reliable natural gas supply in the UK, using “innovative technologies and best practices” to ensure it is “reliable and sustainable”.
The firm will also, where applicable, “evaluate and invest in opportunities for low-carbon gas production and carbon capture and storage”.
Faroe and Longboat – Graham Stewart
Graham Stewart – not to be confused with the current UK energy minister – and Chris Cox are well-known faces in the North Sea sector.
Mr Stewart, and other members of the former Faroe Petroleum team, launched Longboat Energy in 2019 – where he remains as chairman.
He told Energy Voice that year that “unfinished business” spurred his decision to launch the new, acquisition-hungry player, which is focused on the Norwegian North Sea.
He is perhaps best known in the UK sector for his time as CEO of Faroe Petroleum, which he ran from 2002-2019.
It was taken over by DNO in a hostile takeover during that latter year, valuing the firm at £640m.
Mr Stewart later said there were “no hard feelings” over the acquisition, despite some barbed insults between the companies in the weeks prior to that final offer.
Curium Resources CEO – Chris Cox
Chris Cox stood down as CEO of Spirit Energy in February 2022 after six years with the firm and its parent company Centrica.
He has spent 40 years in the E&P sector with firms including Chevron, Hess and BG Group.
Most recently he was appointed as interim CEO of Capricorn Energy this year, formerly Cairn Energy, after its planned merger with Tullow fell through.
Randy Neely, formerly of Egypt-focused TransGlobe Energy, took on the role full-time earlier this month.
In a statement on Curium’s website, Mr Cox said: “Our vision is to be a leading and sustainable independent UK gas development and production company, providing a reliable source of energy to power homes and businesses while minimizing our impact on the environment through efficient innovative and responsible practices.”
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